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This paper develops the issue of funding from a first paper “Conservation finance 1: support for historic buildings”), which highlighted specific measures in use including direct grant aid, low‐interest loans, fiscal relief, tax credits, the transference of development rights with associated funding measures and compensation schemes. Further consideration is given to other avenues for raising finance in support of the built heritage from public and also other sources as a part of the process of developing integrated conservation strategies (such as via foundations, lotteries, revolving funds and non‐profit organisations, combining methods of financing for individual properties including for housing rehabilitation and through area‐based schemes). Taken together, the two papers examine different approaches to funding the built heritage by reference to practice in western Europe and North America.

Throughout Europe there is an ever‐increasing number of properties or areas protected due to their cultural heritage interest. This results in obligations for owners (duties to maintain, keep in good repair, etc.). However, it is generally accepted that laws and policies must provide positive incentives as well as the negative controls in order to successfully preserve and use this heritage. In the UK there is now a well‐developed system of grant aid and a few fiscal measures but demand for assistance outweighs supply. In Ireland a limited amount of financial support measures have recently been provided. Looking further afield, this study examines the need for developing specific measures according to European policy and identifies practice in European Union countries and North America in relation to grant assistance, loans, fiscal and compensation measures. A second paper will examine economic arguments and methods of combining support to sustain the built heritage.